Ukraine Financial News

By Patricia Zengerle

Saudi Arabia and Russia have agreed to extend their voluntary oil production cuts through the end of the year

The European Union’s Commission is reshuffling more of its top management because antitrust chief Margrethe Vestager of Denmark is seeking to become the president of the European Investment Bank

KYIV, Ukraine—A Russian military pilot who defected to Ukraine last month said he flew his Mi-8 helicopter low over fields with its transponder off to evade detection, capping an operation planned over months with Ukraine’s military intelligence agency. In his first public appearance at a news conference in Ukraine, Capt. Maksim Kuzminov said Tuesday that he reached out to the agency, best known by the acronym HUR, late last year after months lamenting the Russian invasion of Ukraine and his part in it.

Indian diamond trade for a better deal as the US has slashed imports of cut and polished diamonds from India by almost 50% amid apprehensions that many of these stones might have indirectly come from Russia.

Aviva said it would be contesting the claim but declined to comment further on legal proceedings.

Urals oil loaded from the state's ports in August, despite a record rise in prices for the grade, traders, LSEG data and Reuters calculations showed.Indian refineries said in August that the Urals discount to the dated Brent benchmark crude had narrowed too much, making them cut purchases of the grade in September. Discounts for Urals oil loading in August narrowed to $5 per barrel and below on a DES (delivered ex ship) basis in Indian ports — a record low since a European Union embargo on Russia's oil. Along with the EU embargo, the G7, the European Union and Australia imposed a $60 per barrel price cap last December on sea-borne exports of Russian crude in retaliation for Russia's war on Ukraine, which Moscow calls a special military operation. The increase in prices for the Russian grade was due to Russia's pledge to cut oil exports in August by 500,000 barrels per day (bpd) in cooperation with OPEC+ to balance oil markets.

NATO member plans to spend more than four percent of its gross domestic product on defence next year amid security concerns over the war in neighbouring Ukraine. He announced the sum of 137 billion zloty ($33 billion) at the opening of this year's edition of the region's biggest trade fair for military equipment, the MSPO in Kielce, Poland. «When we see the emerging danger beyond our eastern border… we know perfectly well — history and experience has taught us this — that any price is worth paying to ensure that Poland is free, sovereign, independent and that Poles can live in safety,» Duda said. «Next year, we plan to spend 137 billion zloty on defence. That is more than four percent of our GDP,» he added, quoted by the Polish news agency PAP. That is an increase on the four percent of GDP Poland had pledged to spend on defence this year and much more than the 2 percent agreed by NATO allies. Poland has shown itself to be a staunch ally of Ukraine ever since Russia's invasion last year. More recently, Warsaw has also been sounding the alarm on threats that it says its other neighbour to the east — Belarus — poses, warning against «provocations» especially involving the Wagner mercenary group currently based there. Warsaw has signed multiple arm deals, including with the United States and South Korea, from whom it ordered K2 «Black Panther» tanks and K9 howitzers. Last month, the US approved a $12 billion sale of Apache attack helicopters to Poland, in another example of Warsaw's bid to boost its military capabilities in light of Russia's war in Ukraine. In June, Poland received a first shipment of US-made advanced Abrams tanks.

Security groups loyal to the Kremlin are moving to take control of Wagner’s military forces in Ukraine and Africa in the wake of the death of its founder, Yevgeny Prigozhin. Mercenary groups with ties to Russian security forces and oligarchs close to the Kremlin are moving to absorb thousands of Wagner soldiers. In doing so, the Kremlin is seeking to commandeer experienced troops for the war in Ukraine and retain the influence Wagner had earned in parts of Africa.

MUNICH—For decades, German carmakers dominated their industry with brands that were bywords for excellence and consumer appeal. But as the sector transitions toward electric vehicles, they are falling behind. Nearly a decade into their electric-vehicle shift, and despite billions in investments, VW, BMW, Mercedes and others have failed to make a dent in Tesla’s share of the growing market.

SEOUL—For more than four years, Kim Jong Un has stayed inside his country’s borders, focused on a deadly virus, a stifled economy and a corrupt elite. Now, the North Korean leader, U.S. officials said, could be planning his first foreign trip to Russia for a meeting with Vladimir Putin.

KYIV (Reuters) -Ukrainian parliament approved the removal of Oleksii Reznikov as defence minister and Rustem Umerov as head of the main privatisation agency on Tuesday, clearing the way for Umerov to take over from Reznikov.

The race is on for $90 oil. But summer, the season Americans like driving the most, is almost over and will wrap in less than three weeks when the fall season begins on Sept. 23.

The financial services sector is set for substantial growth in the next few years as several factors converge.

Taiwan’s government is racing to counter China, buying nearly $19 billion in military equipment from the United States, and extending military conscription for men to a year starting in 2024

G20 Summit on September 9 and 10, with leaders from 20 countries anticipated to participate in this significant event in New Delhi. Prime Minister Narendra Modi has stated that this G20 Summit in India will be historic, as it will witness the largest gathering of world leaders. According to a report by News 18, more than 40 world leaders are expected to take part in the summit in New Delhi.

Reuters, the uncompromising positions on the conflict have resulted in a lack of consensus, to the extent that not even a single joint statement has been reached in the approximately 20 ministerial meetings held under India's G20 presidency this year. Consequently, it falls upon the leaders to navigate these challenges and attempt to find potential solutions.

Group of 20 (G20) major economies will start a summit in India's capital on Saturday to try to find solutions to some of the world's pressing problems amid a deep geopolitical divide over the war in Ukraine that threatens any progress.Here is a look at who is attending, who is not and who might be:U.S. PRESIDENT JOE BIDEN Biden has confirmed his attendance.

G20 Summit, External Affairs Minister S Jaishankar on Monday said the focus should be on the position taken by countries on key burning issues than on the levels of representations at the conclave. «At the end of the day, countries are represented by whoever they have chosen to represent them.

G20 summit in New Delhi. That would make him the second major leader after Russia’s President Vladimir Putin to skip the event.

NEW DELHI : Spain’s ambassador to India, Jose Maria Ridao Dominguez, expressed his country’s desire to become a permanent member of G20. Spain, the world’s 15th largest economy, is currently a permanent invitee to the grouping. In an interview, Dominguez also called on India to take a more assertive stance on global issues like the Ukraine war and commented on China’s new standard map that makes extensive territorial claims.